Late payments result in pressure on working capital which may result in company failures. Don’t let this happen to you.
Are your customers merely delaying payment?
Sometimes a solicitor's letter threatening to commence court or winding-up proceedings is all it takes to make payment of an outstanding invoice your customer’s top priority.
Our debt collection department operates on a fixed fee basis. We are happy to provide a copy of our debt recovery fees on request.
Or are they raising a spurious dispute?
Given the current financial climate underhand debtors may say that your debt is disputed or allege that they have some claim which should be set off against the amount they owe you (“counterclaim”).
Insolvency proceedings offer a quick and cost effective alternative to litigation and in our experience can be extremely effective to deal with spurious disputes.
The raising of a dispute by your debtor will not necessarily prevent the issue of winding-up or bankruptcy proceedings. The Insolvency Court will assess the merits of any dispute, which must be honestly raised and which your debtor must evidence is based on substantial grounds. In the absence of such evidence, the Court will allow the insolvency proceedings to proceed. This is similarly the case with counterclaims. In order to prevent the issue or continuation of insolvency proceedings, your debtor must show that his counterclaim is genuine and exceeds the amount owed to you.
